Pharmaceutical giants Cipla have announced a partnership with Eli Lilly for the marketing and distribution of Basaglar, their new insulin glargine injection in India. Eli Lilliy and Company (India) Pvt. Ltd.is a subsidiary of the its namesake firm in the United States. The deal was announced jointly by both companies. Financial details of the same were not disclosed.
The drug will be available for sale in India by the end of this year.
Umang Vohra, Cipla MD & Globa; CEO was quoted saying “Diabetes continues to be a focus area for Cipla and with the launch of strong brand like Basaglar, Cipla will be at the forefront of providing a holistic diabetes care with the most comprehensive portfolio across orals and injectables."
The company’s agenda continues to revolve around a care continuum approach for the patients it tends to and the creation of a superior quality of treatment and medication, according to Vohra.
Luca Visini, Lilly India MD concluded saying, "This strategic partnership leverages Lilly's commitment to bring innovation to people suffering from diabetes in India and Cipla's strong on-ground footprint across the country."
Cipla’s stock in the meanwhile has continud to rise, this time by 2.22 percet up tp Rs. 552.25 in the Bombay Stock Exchange.